Multibagger in just 1 year and FIIs & DIIs increase stake; Board likely to announce stock split!

The stock gave multibagger returns of 135 per cent in just 1 year and a whopping 600 per cent in 3 years.

Godawari Power & Ispat Ltd (GPIL) announced that a meeting of the Board of Directors is scheduled to be held on Friday, November 03, 2023, to consider and approve the un-audited standalone and consolidated Quarterly Results (Q2FY24) and half-yearly results (H1FY24). Additionally, The Board will consider and approve the proposal for stock split or sub-division of the equity shares of face value of Rs 5 each of the company in such manner as may be determined in the meeting.
Godawari Power & Ispat is a steel company that mines its own iron ore and manufactures steel products. It has two captive mines that supply 85 per cent of its iron ore needs. This saves the company a lot of money on raw material costs. Its subsidiary, ASL, does not have captive mines and has to rely on merchant mines for its iron ore needs.

The company has a market cap of over Rs 8,300 crore with a 3-year stock price CAGR of 90 per cent. In September quarter, FIIs have increased their stake from 3.64 per cent to 4.66 per cent and DIIs have increased their stake from 1.11 per cent to 1.51 per cent.

Today, shares of GPIL gained 1.58 per cent to Rs 615.45 per share with an intraday high of Rs 620 and an intraday low of Rs 607. The stock’s 52-week high of Rs 675 and its 52-week low is Rs 260.

The stock gave multibagger returns of 135 per cent in just 1 year and a whopping 600 per cent in 3 years. Investors should keep an eye on this Small-Cap iron & steel stock.

Disclaimer: The article is for informational purposes only and not investment advice.